What is CMBS Commercial Mortgage Backed Securities. Publi

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CMBS and Portfolio Market OverviewsCommercial/
Multifamily Regional Servicing Forum

• Panel
• Christopher G. CrouchARCap Servicing,
  Inc.Steven RappGEMSA Loan Services, LP
• Keith A. DunsmoreAkin Gump Strauss Hauer Feld,
  LLP

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CMBS and Portfolio Market Overviews

• What is CMBS Commercial Mortgage Backed
  Securities
• Public vs. Privately Placed Securities
• REMIC vs. Grantor Trust Tax Treatment
• Who are the Parties in CMBS
• Mortgage Banker/Lender
• Depositor/Issuer/Underwriter
• Trustee
• Master Servicer/Primary Servicer
• Special Servicer
• Rating Agencies
• B Piece Buyer

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CMBS and Portfolio Market Overviews
Origination

• Role of Mortgage Broker/Mortgage Banker/
  Correspondent
• Underwriting the Mortgage Loan
• CMBS vs. Portfolio
• Information Captured For Due Diligence/Securities
  Disclosure
• Role of the Originator in Sale
• Representations and Warranties
• Loan Set-Up/Billing and Collection

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CMBS and Portfolio Market Overviews
Master/Primary Servicer

• What are the different roles for a Master vs.
  Primary Servicer
• Loan Level Responsibilities
• Processing Payments
• Taxes, Insurance, Escrows and Reserves
• Managing Borrower Relationships
• Transactions Approvals
• Inspections
• Financial Analysis
• Advancing PI and Property Advances
• Portfolio Level Duties
• Remitting to Trustee
• CMSA Reporting

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CMBS and Portfolio Market Overviews
Role of the Trustee

• Owner of the Mortgage Loans
• Maintaining the Mortgage File
• Payments to Certificateholders
• Portfolio Reporting
• Trust Tax Reporting
• Backup Advancing

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CMBS and Portfolio Market Overviews
The Special Servicer

• Overview of the Special Servicer
• Senior Management
• Staff
• Due Diligence and Surveillance Platforms
• Technology
• Policies and Procedures
• Affiliation with the B Piece Investor

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CMBS and Portfolio Market Overviews
Role of The Special Servicer

• Duties Before Transfer
• Portfolio Surveillance
• Assumptions, Modifications, Waivers and Consents
• Duties After Transfer
• Special Servicers Servicing Standard
• Developing/Executing on Asset Strategy Plan
• Reporting and Managing Information Flow

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CMBS and Portfolio Market Overviews
B Piece Investor/ControllingClass
Representative

• Ongoing Role of Controlling Class Representative
• Approval and Consent Requirement
• No Obligation to other Certificateholders
• No Servicing Standard
• Affiliation with Special Servicer Right to
  Change Special Servicer

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